HP (HPQ) Dividend Increase a Sign of Confidence, Thinks Wells Fargo

HP (NYSE: HPQ) today announced that the HP board of directors has authorized a 10.2 percent increase in the amount of its regular quarterly dividend, to $0.16 per share. In the view of Wells Fargo analyst Maynard Um, the increase highlights the company's confidence in healthy cash flow.

"We believe the increase in dividend highlights the company's confidence in its ability to generate healthy cash flows, commitment to returning cash to shareholders and confidence in its turnaround plan. The dividend increase comes following HP's annual shareholder meeting, which was held yesterday. We reiterate our Outperform rating and we believe our core thesis is intact with several businesses bottoming in FY2014 and opportunities for growth and leverage in FY2015," said Um.

Wells Fargo Outperform Hewlett-Packard (NYSE: HPQ)

For an analyst ratings summary and ratings history on Hewlett-Packard click here. For more ratings news on Hewlett-Packard click here.

Shares of Hewlett-Packard closed at $31.62 yesterday.

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